Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos bought its share for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
